MobiKwik, one of India’s largest digital wallet companies, has reported impressive financial results for the second quarter of fiscal year 2025. The company’s total income for the quarter stood at ₹293.7 crore, representing a 42 per cent year-over-year growth. This marked the company’s first quarterly results since its listing.
One of the key highlights of MobiKwik’s performance in Q2FY25 was the significant expansion of its payments business. The Payments GMV (Gross Merchandise Value) soared by 267.3 per cent year-over-year to ₹28,300 crore. The company also achieved an EBITDA of ₹6.804 crore, indicating a strong operating performance. However, MobiKwik recorded a net loss of ₹3.594 crore, which it attributed to ongoing business investments aimed at fueling future growth.
In terms of market position, MobiKwik solidified its status as India’s largest digital wallet, capturing a 23 per cent market share in PPI wallet gross transaction value. The company added approximately 60 lakh new users during the quarter, expanding its registered user base to 16.7 crore. Additionally, MobiKwik’s merchant network grew by 1.4 lakh to reach 44 lakh merchants.
The company’s financial metrics also showed positive trends, with the contribution margin improving to 40 per cent of total income in Q2FY25, up from 37 per cent in the same quarter last year. Payments revenue saw substantial growth, increasing by 181.3 per cent year-over-year to ₹188.7 crore, with the payments gross margin reaching 19.2 per cent.
Overall, MobiKwik’s strong financial performance in Q2FY25 underscores its position as a key player in India’s digital payments ecosystem. With its focus on expanding its user base, merchant network, and payments business, the company is well-positioned to capitalize on the growing adoption of digital payments in the country.
